Calavo Growers (NASDAQ:CVGW) released its earnings results on Monday. The company reported $0.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.08, Briefing.com reports. The company had revenue of $296.50 million during the quarter, compared to analyst estimates of $305.12 million. Calavo Growers had a return on equity of 16.89% and a net margin of 3.70%. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.50 earnings per share.
Shares of NASDAQ:CVGW traded down $2.00 during midday trading on Wednesday, hitting $102.05. 289,558 shares of the stock were exchanged, compared to its average volume of 159,711. Calavo Growers has a 52-week low of $66.50 and a 52-week high of $107.53. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of 48.17 and a beta of 0.52.
In related news, Director Der Kar Scott Van sold 1,100 shares of the stock in a transaction on Wednesday, June 20th. The stock was sold at an average price of $95.01, for a total transaction of $104,511.00. Following the completion of the sale, the director now directly owns 650 shares in the company, valued at $61,756.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Marc Laurence Brown sold 850 shares of the stock in a transaction on Friday, June 22nd. The stock was sold at an average price of $94.07, for a total value of $79,959.50. Following the sale, the director now owns 11,500 shares of the company’s stock, valued at $1,081,805. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,844 shares of company stock valued at $2,389,564. 8.40% of the stock is owned by corporate insiders.
A number of research firms have recently issued reports on CVGW. BidaskClub upgraded Calavo Growers from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 25th. Zacks Investment Research upgraded Calavo Growers from a “sell” rating to a “hold” rating in a report on Tuesday, August 14th. Buckingham Research lowered Calavo Growers from a “buy” rating to a “neutral” rating and set a $98.00 target price for the company. in a report on Tuesday. They noted that the move was a valuation call. Finally, Vertical Group lowered Calavo Growers from a “buy” rating to a “hold” rating in a report on Tuesday, August 7th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $97.00.
Calavo Growers Company Profile
Calavo Growers, Inc markets and distributes avocados, prepared avocados, and other perishable foods to grocery retailers, food services, club stores, mass merchandisers, food distributors, wholesalers, supermarkets, specialty/natural retailers, and convenience stores worldwide. It operates in three segments: Fresh Products, Calavo Foods, and RFG.
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